Home Information Packs (HIPS)

What's comes in a home information pack?

Download this document (from the Home Information Pack Action Group).

HIP Procedure Sheet For Clients

Client Procedure from start to finish on obtaining a HIP.

HIP Procedure Sheet For Estate Agents

Estate Agents Procedure from start to finish on obtaining a HIP.

Clarke & Son is a member firm of the Home Information Pack Action Group (HIPAG). Through membership of organisations such as HIPAG and the Law Society we are in a position to provide Home Information Packs (HIPs) to meet the demands of marketing.

What is a Home Information Pack?

A collection of documents, which will include, copy Deeds, Searches, an Energy Performance Certificate (EPC) and possibly a Home Condition Report (HCR), which is the new type of survey.

I thought Home Information Packs were scrapped last year?

No, some changes were made, the main one being the fact that the HCR became a voluntary document rather than a compulsory one. Some commentators are now describing the packs as an "LIP" (Legal Information Pack), as the documents contained are primarily those normally obtained by your solicitor.

How much does a Home Information Pack cost?

The cost will depend on the type of HIP being requested. The estimated costs for Home Information Packs are:

The basic HIP with Deeds, Searches and an EPC, compiled for the average property is likely to cost just over £350.00.
The full HIP with Deeds, Searches and a Home Condition Report is likely to cost about £600.00.

The size and type of property will have some bearing on the cost. HIPs for freehold properties are likely to cost less than HIPs for leasehold properties.

Who will pay for the Home Information Pack?

The seller of the property pays for the HIP. A number of payment options will be available including, up-front or deferred (i.e. payment within 10 months or on completion of the sale, whichever is the earlier).

How long will it take to compile a Home Information Pack? When can the property be marketed?

It is anticipated that most freehold HIPs will be compiled within 5 working days. Leasehold may take longer. A vacant residential property cannot be marketed without a HIP having been commissioned.

Why have Home Information Packs been introduced?

A number of reasons:

Within the next few years, all residential properties should have had an energy efficiency assessment carried out on them in order to comply with an EU directive. The result of that assessment should mean that those properties will become more energy efficient, cheaper to run and release less harmful emissions into the atmosphere etc. The Government also wants to improve the condition of our housing stock.
In addition, the Government wants to make the home buying and selling process, more transparent, quicker and less stressful.

Will Home Information Packs deliver the above?

Some will, some won't. Not all HIPs will be the same. As with most things in life, you usually get what you pay for; beware of cheap HIPs or HIPs being offered for free. Buying and selling property is one of the most important things we do. Ask your estate agent why he or she is recommending a particular HIP supplier.

The Independent HIP Group

HIPAG (Home Information Pack Action Group) also provide a list of HIP questions and answers, which you can download or, for more information about Home Information Packs, visit www.hipag.co.uk.